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Key data from the Group’s income statement and balance sheet

The Group earned total revenues of 6,198 million euro in 2011.

Gross operating income, of 942 million euro was achieved thanks to the contribution made by all the Group’s areas of activity; in particular 36% came from the energy sector, 9% from the heat sector, 30% from the environment sector and 27% from distribution networks. The corporate and other services sector made a negative contribution of 3% to gross operating income.
Consolidated “Invested capital” amounted to 7,614 million euro at December 31, 2011 and was funded by equity of 3,593 million euro (of which 826 million euro attributable to minority interests) and net debt of 4,021 million euro.
Net income for the year pertaining to the Group
, after deducting the income attributable to minority interests, amounted to negative 420 million euro (positive 308 million euro in 2010). There was a profit of 168 million euro after excluding capital gains on the disposal of assets and impairment losses on equity investments and tangible and intangible assets.

ECONOMIC DATA 2009 2010 2011
Revenues (millions of euro) 5,401 6,041 6,198
Gross operating income (millions of euro) 1,023 1,040 942
Net operating income (millions of euro) 609 498 301
Net income attributable to the Group (millions of euro) 80 308 -420
Net earnings per share (euro) 0.026 0.098 -0.134
Unit dividend* (euro) 0.07 0.096 0.013
* dividend proposed by the Management Board
GROSS OPERATING INCOME BY SECTOR (millions of euro)  2009 2010 2011
Energy 538 441 336
- electricity 404 359 242
- gas 134 82 94
Heat and services 76 70 85
Environment 221 262 287
Networks 230 298 259
Corporate and other services -42 -31 -25
Total 1,023 1,040 942
BALANCE SHEET (millions of euro) 2009 2010 2011
Net fixed capital 7,942 7,911 5,846
Working capital 891 763 850
Assets and liabilities held for sale * 406 64 918
Net invested capital 9,239 8,738 7,614
Net equity 4,595 4,845 3,593
- Group share 3,690 3,501 2,767
- Minority share 905 1,344 826
Net financial position 4,644 3,893 4,021
Total sources 9,239 8,738 7,614
Total financial debt4,7194,2094,551
* excluding balances included in the net financial position
KEY FINANCIAL RATIOS 2009 2010 2011
Turnover per permanent employee 0.66 0.50 0.52
Gross operating income per permanent employee 0.12 0.09 0.08
Average number of permanent employees 8,930 12,171 11,960